Goldman Sachs Announces $233M Investment in Port Covington

Goldman Sachs announced Wednesday night that it is investing $233 million in the project. The investment firm will jointly own the project and develop infrastructure.

The $5 billion development project in south Baltimore is the brainchild of Under Armour CEO Kevin Plank. It will be anchored by Under Armour headquarters.

"Baltimore is one of the country’s great cities. We are proud to be part of, and build upon, its rich legacy and heritage," Margaret Anadu, head of Goldman Sachs’ urban investment group, said in a statement.